Ashley Pankey
- Buy
- Sell
https://www.ruhlmortgage.com/LawrenceDavis.html
Open Houses
Sun, Nov 1st 11:00am - 1:00pm
Description
A rare opportunity to own a piece of Elgin's architectural history! Built in 1883, this distinctive Queen Anne Victorian combines timeless charm with the income potential of a legally configured 3-unit property. Well-maintained and thoughtfully laid out, it boasts three separate living spaces: Unit 1 on the main level includes 2 bedrooms, 1 bathroom and is rented month-to-month, and private access to the basement; Unit 2 on the second floor offers 3 bedrooms and 1 bathroom; and Unit 3 on the main level features 1 bedroom and 1 bathroom. The full, unfinished basement provides shared coin-operated laundry, dedicated storage closets for each unit, and convenient exterior access. Eight exterior parking spaces on an oversized parking lot in the rear and a storage shed add to the property's functionality. Ideal for investors looking to expand their portfolios or owner-occupants seeking to offset housing expenses through rental income, all three units are currently occupied by responsible tenants paying below-market rents, presenting potential for future income growth. With established tenancy, a carefully maintained building, and flexible ownership possibilities, this Victorian gem offers a compelling opportunity in Elgin. Enjoy convenient access to Downtown Elgin, public transportation, Metra commuter rail, the Fox River, neighborhood parks, local shopping and dining, and more!
Property Highlights
Property Type: Multi Unit - Multiple
General Information
Bedrooms: 6
Bathrooms: 3
County: Kane
High School: Larkin High School
Listed By:
Keller Williams Success Realty
847-381-9500
MRED MLS
MLS ID: 12794475
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656 South Street, Elgin, IL 60123.
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $475,000 | $475,000 | $475,000 |
| Down Payment | $95,000 | $16,625 | $118,750 |
| Monthly Mortgage Amount | $2,496 | $3,064 | $3,079 |
| Taxes | $661 | $661 | $661 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $209 | $0 |
| Monthly Estimated Total | $3,296 | $4,073 | $3,879 |
Ashley Pankey
REALTOR®
Cell: (309) 721-8830
Licensed in IL & IA
Moline Office
1701 52nd Avenue
Moline, IL 61265
(309) 743-8000
Moline, IL 61265
(309) 743-8000
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